Global interest in Bitcoin and other cryptocurrencies has never been greater. This creates a lot of new business opportunities for potential service providers. Eris Exchange in Chicago prepared to launch its very own cryptocurrency spot futures trading platform. The company secured sufficient funding to launch this new venture in the near future.
Investors from all over the world continue to demand exposure to cryptocurrencies. For existing financial service providers, this creates new business opportunities. Chicago’s ErisX is launching a cryptocurrency market focused on spot futures trading. Their supported currencies include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Additional currencies might be added as time progresses, albeit this has not been officially confirmed.
ErisX Goes Down an Interesting Path
The new venture is made possible thanks to backing from prominent investors. That list includes TD Ameritrade, CBOE Global Markets, Digital Currency Group, and Pantera Capital. All of these companies see merit in ErisX’s plans to launch crypto spot futures trading, both in digital and physical form. The latter option will give holders the cryptocurrency when the contract expires. potentially opening up a lot of new use cases.
Thomas Chippas, new CEO of this upcoming venture, adds:
“Leveraging our heritage and experience with exchange infrastructure, our market participants will benefit from modern trading tools on a fair and transparent platform. ErisX’s enhanced experience will provide the opportunity for new participants to enter the digital asset market and existing participants a superior venue for their execution and clearing needs.”
It is one of the first times a company offers access to physical Bitcoin futures contracts. TD Ameritrade is quite excited about this prospect, primarily because they were among the first to offer approved clients with access to Bitcoin futures in digital form. The demand for Bitcoin will not slow down anytime soon, and catering to this market is in everybody’s best interest.